Wawa (GL)

212 Blackwood-Barnsboro Road, Washington Township, NJ 08080

$6,360,000

Cap Rate 5.00%

Views: 223 DOM: 409 Updated: 11.25.24 Posted: 11.08.23 Status: Active

Summary

Price $6,360,000	Built/Renov 2023	Tenant Wawa (GL)
Cap Rate 5.00%	Lease Type Abs NNN	Guarantor Corporate
Size/SF 5,585	Lease Start 12-01-2023	#Units 1,050
Price/SF $1,138.76	Expiration 12-01-2043	Tenant Type Convenience/Gas
NOI $318,000	R. Term 18.11	Ownership Ground Lease
Rent/SF $56.94	Increases 10.0%/5/yrs	Pop 5Mi 181,040
Lot/AC 2.61	Options 6/5yrs/10%	AHHI 5Mi $122,659

Lease Highlights

Brand-new 2023 construction
Wawa recently signed a new 20-year ground lease with 6 (5-year) options to extend
The lease features 10% rental increases every 5 years starting in lease year 6 and at the beginning of each option period
Absolute NNN lease | Zero landlord responsibilities
Corporate guaranteed lease

Location Description

Wawa is situated at the hard corner, signalized intersection of State Highway 47 and Blackwood-Barnsboro Road with additional access from Egg Harbor Road seeing a combined 54,900 vehicles per day. The asset benefits from significant street frontage and multiple points of ingress/egress, providing convenience and ease for customers. The property consists of a 5,585 SF convenience store, a...

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Key Features

New construction
Signalized intersection
High traffic 50M+ VPD
Highway location
Top 100 MSA
Affluent AHHI $100K 5 Mi
Brand new lease
Long 20+ yr lease
Absolute NNN
Corporate Guarantee

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Links

Wawa Wikipedia Wawa Wikipedia Sewell, New Jersey Zip Code 08080 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Wawa
Guarantor:Corporate
Company:Wawa, Inc.
# Units:1,050
Stock:Private

About Tenant

Wawa, Inc. is an American chain of convenience stores and gas stations located along the East Coast of the United States, operating in Pennsylvania, New Jersey, Delaware, Maryland, Virginia,...

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Listing Broker

William Wamble

SRS National Net Lease Group

Contact

186 Listings
23311 Views
49 Sold

Patrick Nutt

SRS National Net Lease Group

Contact

262 Listings
30161 Views
93 Sold

William Wamble

Will Wamble joined SRS in early 2019 and specializes in the advisory and sale of net leased properties, specifically in the Southeast. With more than $350M worth of transactional experience in his career, Will prides himself on valuing hard work and dedication to his clients. Will emphasizes collaboration and putting the best team together to find creative solutions to getting transactions completed. He started his commercial real estate career in 2013 with Marcus & Millichap where he focus

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Patrick Nutt

Patrick Nutt joined SRS as executive vice president for the National Net Lease Group and market leader in the Fort Lauderdale office in 2019. He leads the Fort Lauderdale office where he is tasked with recruiting and expansion efforts in the region and elevating the SRS brand throughout Florida. Additionally, Patrick Co-heads the National Net Lease Group for SRS, a group of 50 investment sales professionals who in 2020 managed over 500 transactions with an aggregate value of nearly $2 Billion

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